BTC/USD has been moving sideways for some months now. with a clear base of 6k. It is wild to imagine BTC/USD was 3x of its current value less than a year ago. This pair is not in the news as it used to be, and for good reason. The masses of individuals are not interested in trading unless they see a quick potential gain. As of today, my analysis is to buy and hold long. If you are more risk averse I would wait a few days and set alarms to see if this pair reaches the current support. I am prediciting more sideways action for another month or so, by the end of this quarter I can see prices going back up. 8k by november 15th is my current guess. I can't see much of a price decline, but if there is, I would buy at the discount ;).
For my current actions, I will enter now, and Pull out at around 6.7k. If the price declines, I will enter in with a re-entry, with a same pricepoint to pull out.
I am expecting to pull out at the 6.7k mark within 48 hours of this entry.... if the price lowers, and i enter with a re-entry, I am expecting to pullout within 6/7 days.
As for the breakout, well, we will see that in the long run, BTC/USD is still settling in its overall monthly chart, but seems consistent in it's support:6k and Resistance: 8k. Hopefully, the breakout comes around just in time for christmas ha.
For my current actions, I will enter now, and Pull out at around 6.7k. If the price declines, I will enter in with a re-entry, with a same pricepoint to pull out.
I am expecting to pull out at the 6.7k mark within 48 hours of this entry.... if the price lowers, and i enter with a re-entry, I am expecting to pullout within 6/7 days.
As for the breakout, well, we will see that in the long run, BTC/USD is still settling in its overall monthly chart, but seems consistent in it's support:6k and Resistance: 8k. Hopefully, the breakout comes around just in time for christmas ha.